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Using the schedules given, plot the demand curve and the supply curve on the below graph.Label the axes and indicate for each axis the units being used to measure price and quantity.Then answer the questions.
(a) Give the equilibrium price and quantity for oats.(b) Indicate the equilibrium price and quantity on the graph by drawing lines from the intersection of the supply and demand curves to the price and quantity axes.(c) If the Federal government decided to support the price of oats at $1.40 per ton, tell whether there would be a surplus or shortage and how much it would be.(d) Demonstrate your answer to part (c) on your graph being sure to label the quantity you designated as the shortage or surplus.
Childbearing Woman
A female who is in the process of giving birth or is capable of producing offspring.
Functionalism
A sociological theory that views society as a complex system whose parts work together to promote solidarity and stability.
Deviance
Behaviors or actions that violate social norms or expectations, which can vary widely between cultures and settings.
Coercion
The act of compelling someone to act in a certain way by use of force, threats, or pressure.
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